Payment Operations Consultant

2 weeks ago


Sandton, South Africa Discovery Ltd. Full time

**Business Unit**:Discovery Bank**Function**:Banking**Date**:28 Nov 2023**About Discovery**
- Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.**About Discovery Bank**
- Discovery Bank is a bank like no other - a shared-value bank, designed with our clients in mind. We’re all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you’re adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that’s safe and nurturing.**Job Purpose**
- The Foreign Exchange and cross border payments operations consultant processes manual payments and resolves reconciliations exceptions, trading and payments exceptions and interbank queries. Typical duties are executing operational activities associated with processing and settling of foreign exchange transactions and trades for the bank. This includes payment processing and confirmations, account reconciliations, investigations, troubleshooting, risk, reporting, and problem/incident resolution of foreign exchange transactions and trades in various currencies and a wide variety of FX business products. The incumbent will be responsible for accurately and timeously resolving issues and processing any related postings, while managing risk and ensuring excellent customer experience.**Areas of responsibility may include but not limited to**
- Executing operational activities associated with processing and settling of foreign exchange transactions for the bank
- Documents procedures and processes as well as provides input into process enhancements and root cause analysis of exceptions
- Maintains knowledge in all aspects related to Forex operations/cross border payments, understands regulatory guidelines, and keeps informed of trends and changes.
- Monitors payments exception management i.e. resolve FX exceptions and ensure accuracy of balances and posting of FX transactions (including interim support formanual exchange control and sanctions screening)
- Trouble shooting and incident management resolution
- Review and ensure daily account reconciliation and postings for all FX trades and transactions
- Providing a high level of customer service to both internal and external clients.
- Performs (UAT) User Acceptance Testing of operational interfaces and workflows
- Resolves interbank queries and disputes
- Works collaboratively to resolve complex issues and/or errors that impact customers or place the bank at risk if not appropriately resolved.
- Provides back-up support for all job functions within the department as needed.
- Completing several reporting reports to internal management and regulatory bodies i.e., BoP reporting

**Personal Attributes and Skills**
- Understanding of industry practices and rules governing interbank payments especially FX/cross boarder payments
- Understanding of FX/Cross border Payments and Treasury Operations Business Processes
- Understanding of SWIFT messaging standards i.e. MT standards including ISO 20022
- Understanding of key risks associated with processing payments
- Technically/system inclined
- High level of computer literacy and MS Office

**Education and Experience**
- Bachelor of Commerce or Bachelor of Science degree or Banking related qualification
- Minimum 3 years’ experience within Forex/cross border payments Operations in a bank
- In-depth knowledge of SWIFT FIN/MT messaging formats, with ISO 20022 as added advantage
- Experience in working with international (cross border) transactions
- Good knowledge of regulations in the field of foreign exchange operations
- Understanding of BoP reporting on cross-border transactions
- Flexible in terms of adapting to new standards/processes and change management
- Understanding of financial flow architecture, both Domestic and cross boarder (Clearing and Settlement)
- EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.



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